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Gold/Mining/Energy : Winspear Resources

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To: Chad Barrett who wrote (13070)	1/22/1999 11:21:00 AM
From: Rick the Vet	of 26850

Chad -- You are right on the money. We do not have enough information to calculate what is needed to provide "confident" grades and values. In order to make such a calculation we need to know variance between samples. Obviously the variance between the larger stones is very large and therefore we need a large sample size to be confident. But what is the variance of the microdiamonds within these samples? If there is high correlation between microdiamond counts and macrodiamond counts then we can use the larger microdiamond population to predict the grade of the macrodiamonds. If the variance of this population is very small and its correlation to larger stones very high then the sample size will be decreased dramatically. They must have some clue to this from the results of the holes that have been trickling in over the past few weeks. This has probably led them to the decision of the 6000 tonne bulk sample. Of course once all the results are analyzed in a statistical manner there is plenty of time to revise the size of the bulk sample.

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